Billing Best Practices

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Hear from Lyle Wallis from the Credit Research Foundation as he leads a panel of senior level Credit/Collection managers as they discuss steps they have taken to improve their billing process.

Panel Includes:
Brian Good, Director of Customer Relations, Cobra PUMA Golf
Ray Sims, Director of National Credit, Roofing Supply Group
Mitch Rose, VP of Billing Strategy, Billtrust

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Billing Best Practices

  1. 1. Billing Best Practices Moderator: Lyle Wallis, CRF Billing Best Practices Webinar
  2. 2. Panel► Lyle Wallis • Vice President, Credit Research Foundation► Brian Good • Director of Customer Relations, Cobra PUMA Golf► Ray Sims • Director of National Credit, Roofing Supply Group► Mitch Rose • VP of Billing Strategy, Billtrust Billing Best Practices Webinar
  3. 3. Agenda►Strategic Billing: The 3 C’s►Case Study: Brian Good, Cobra PUMA Golf►Case Study: Ray Sims, Roofing Supply Group►Your Questions Billing Best Practices Webinar
  4. 4. Survey Results Financial Execs view of Billing 33% Utility Strategic 67%Source: Billtrust Financial Executive Survey (2011) Billing Best Practices Webinar
  5. 5. Billing Best Practices: The 3 C’s Billing Best Practices Webinar
  6. 6. About PUMA► PUMA is one of the world’s leading sport lifestyle companies that designs and develops footwear, apparel and accessories► PUMA Employs more than 9,000 people worldwide and has headquarters in Herzogenaurach Germany, Boston, London, Carlsbad and Hong Kong► Cobra was purchased in 2010 and COBRA PUMA Golf was formed Billing Best Practices Webinar
  7. 7. PUMA: Billing Process Transformation Before After ► Billing process managed in-house ► Increased focus on eBilling- Customers can view bills online ► Labor intensive: anytime/anywhere • Operate printer, sort outbound mail, pull ► Online payment processing via ACH invoices, batch (30-45 minutes each day) and Credit Card ► No electronic billing usage other ► Using the bill to build relationships than EDI with customer- each bill has info on dedicated PUMA analyst for each ► Bill design not well liked by account customers ► Reallocation of staff to other ► IT resources allocated to keep business processes process running smoothly. ► Reduced DSO by 10 days ► Money spent on servicing machines ► Cost savings of over 30% ► Enhanced linkage with sustainability ► Mentality was to keep things in- ► Integration with collection system - house. Not an outsourcing culture Get Paid Billing Best Practices Webinar
  8. 8. Bill Design Billing Best Practices Webinar
  9. 9. Mail based on location of bill recipient Billing Best Practices Webinar
  10. 10. EIPP Billing Best Practices Webinar
  11. 11. eAdoption Trend Billing Best Practices Webinar
  12. 12. Customer Service Billing Tool Billing Best Practices Webinar
  13. 13. Tracking Invoices Billing Best Practices Webinar
  14. 14. Integrate Order to Cash Systems Billing Best Practices Webinar
  15. 15. About Roofing Supply Group ►A Leading Roofing Supply Distributor in North America ►Decentralized Credit Organization ►Credit Department Oversees 60 Branch Operations ►Each of the 5 Regional Credit managers with 37 credit managers across the country ►Processes 70,000 invoices per month Billing Best Practices Webinar
  16. 16. RSG: Billing Process Transformation Before After ► Manual processes ► Improved invoice design ► High printing / postage costs ► Faster mail times ► Slow mail times • Mailing across multiple locations ► Multiple versions of ► Reduced costs by over 35% invoice templates ► Over 55% of bills being sent ► Poor bill design electronically ► Lack of visibility into ► Payments received across invoice processes multiple online portals ► No ability to accept ► Over $3MM in online electronic payments payments ► Accuracy issues ► Reduction in bad debt/DSO ► No disaster recovery ► Integration with collection ► Not achieving cost reduction system - Get Paid targets Billing Best Practices Webinar
  17. 17. eAdoption Trend Billing Best Practices Webinar
  18. 18. EIPP Billing Best Practices Webinar
  19. 19. Invoice CentralProvides businesses with one central web site to receive and pay invoices from multiple vendors. Billing Best Practices Webinar
  20. 20. eAdoption Collateral Billing Best Practices Webinar
  21. 21. Billing Best Practice: Bullpenning Delay the mailing of low dollar invoices. More invoices in one envelope mitigates the impact of the USPS. Billing Best Practices Webinar
  22. 22. Billing Best Practices: The 3 C’s Billing Best Practices Webinar
  23. 23. Track Best Practices Billing Best Practices Webinar
  24. 24. Questions? Lyle Wallis Ray Sims lylew@crfonline.org rsims@rsgroof.com Mitch Rose Brain Good mrose@billtrust.com brian.good@cobrapuma.com For Weekly Billing Best Practice tips and articles subscribe to the Strategic Billing Insights Blog: blog.billtrust.com Billing Best Practices Webinar

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